BDF Gestion Sells 1,074 Shares of Labcorp Holdings Inc. $LH

Key Points

• BDF Gestion has decreased its stake in Labcorp Holdings Inc. by 9.8%, owning 9,849 shares after selling 1,074 shares, which are valued at approximately $2.58 million.
• Labcorp posted quarterly earnings of $4.35 EPS, exceeding analysts' expectations, with a reported revenue of $3.53 billion.
• The company recently announced a quarterly dividend of $0.72, translating to an annualized dividend of $2.88 and a yield of 1.0%.

BDF Gestion reduced its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,849 shares of the medical research company's stock after selling 1,074 shares during the quarter. BDF Gestion's holdings in Labcorp were worth $2,585,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of Labcorp by 3,009.3% in the second quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company's stock worth $31,490,000 after buying an additional 116,100 shares during the period. IFM Investors Pty Ltd raised its position in shares of Labcorp by 5.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 16,682 shares of the medical research company's stock valued at $4,379,000 after purchasing an additional 823 shares during the period. Grove Bank & Trust raised its position in shares of Labcorp by 7.4% during the 2nd quarter. Grove Bank & Trust now owns 4,228 shares of the medical research company's stock valued at $1,110,000 after purchasing an additional 293 shares during the period. Contravisory Investment Management Inc. raised its position in shares of Labcorp by 3,057.4% during the 2nd quarter. Contravisory Investment Management Inc. now owns 38,362 shares of the medical research company's stock valued at $10,070,000 after purchasing an additional 37,147 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Labcorp by 3.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,533 shares of the medical research company's stock valued at $9,830,000 after acquiring an additional 1,351 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Performance

Shares of Labcorp stock opened at $277.07 on Friday. The stock's fifty day moving average is $267.90 and its two-hundred day moving average is $251.92. The company has a market capitalization of $23.02 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's dividend payout ratio is 31.79%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares of the company's stock, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock worth $4,207,192 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird set a $311.00 price target on Labcorp in a report on Monday, August 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group lifted their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Truist Financial lifted their price objective on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

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